2 IRA Changes to Consider Right Now, Thanks to the SECURE Act
Do you have a traditional IRA that you plan on passing on to your heirs one day? Sweeping new retirement legislation may have just pulled the rug out from under certain aspects of that plan for many Americans.
The SECURE Act, signed into law in December 2019, is among the most prolific retirement legislative changes we have seen in more than a decade. Inherited IRA and updated RMD provisions in this legislation could impact your retirement and estate plans, so read on to find out two tax-smart steps you might want to take now:
- Consider naming your spouse (not your children or grandchildren) as your primary beneficiary for your IRA.
- Weigh implementing a strategy to start converting your traditional IRA to a Roth over time.
But first, some with the passage of the SECURE Act and how that could directly
